Global Marketing Strategy of TOYOTA Dissertation

Global Marketing Strategy of TOYOTA - Dissertation Example The fast pace of advancement of the modern day world is more on the lines of rapid change and tremendous development. It is of high importance to mention that the evolution of the telecommunication technology along with the process of evolution of high speed internet and various kinds of technology enabled gadgets has resulted in the process of playing a tremendous amount of influence in the lives of the masses around the world. It needs to be mentioned that because of the lines of emergence of high speed internet connectivity, the network of communication channels has improved in a drastic manner all over the world. The internet has played a major role in the process of creating the channels of communication in the various regions of the developed as well as the developing economies. It can be rightly said that it is of considerable importance to highlight that this technology powered development has resulted in the process of transformation of the globe, where the entire world can be represented and increasingly seen as a single and well connected global entity. Because of this technology powered transformation of the world around us, there has always been a steady evolution of various kinds of trends associated with the factor of globalization. The trends of globalization, that are emerging from all corners of the world are increasingly getting diffused at a very rapid pace and it is happening irrespective of the fact of whether the regions are located in the developed or developing economies. The rapid diffusion of the trends of globalization is resulting in the process of evolution of various kinds of new types of consumer demands. These new consumer demands are increasingly paving the way for a significant amount of business opportunity. Business organizations that are located in various corners of the world are increasingly trying their level best to capitalize on these business opportunities. As a result, it can be said that in the recent times, there h as been a significant amount of business related activity on the lines of strategic business expansion as well as the organization’s process of entering new business markets. This age old activities of the organizations of capitalizing on potential new business opportunities are resulting in the process of increasing and catalyzing the competition that exists in the new markets. The presence of multiple firms, providing similar kinds of business products and service offerings, are increasingly leading to the process of increase in the availability of homogeneous products and services in the market. In other words, the homogeneous products and services are increasing the number of options that are available to the consumers and are automatically resulting in the process of increase in the power of substitutes for the consumers. In order to gain an edge in the competition growing in various markets around the world, companies focus on effectively communicating the values of the ir products and serv